Friday , September 25 2020

MRVE's earnings are frustrating expectations at $ 160 million in Q3; see other results


SAO PAULO – MRVE3 engineering company reported net income of $ 160 million in the third quarter of this year. The figure is 8% lower than in the same period last year ($ 174 million).

The result also surpassed the expectations of analysts consulted by Bloomberg, who forecast a net profit of $ 184.5m for the company from July to September this year.

MRV's net operating income was $ 1.57 billion – up 16.1% year-over-year and slightly above market forecast ($ 1.53 billion). It was also the largest net operating income in the company's history.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) closed the third quarter at $ 248 million, up $ 10 million more than in the same period of 2018 (up 4.2%).

As a result, the company's EBITDA margin (cash production and net income) reached 15.8% in the quarter – a drop of 1.8 percentage points year-on-year.

Along with the result, the company also announced that the extraordinary dividends declared by the Annual and Extraordinary General Meeting held April 25, 2019, totaling $ 327,896,570.78, will be paid on two separate dates, as early as 2019.

The first emergency dividend distribution of $ 163,948,285.39 will be available on November 27, 2019, which is equivalent to approximately $ 0.37014261 per share based on shareholder position on November 14, 2019. .

The date of the second dividend payment was not disclosed by the company.

Other companies also released their balance sheets after the market closed on Tuesday. Take a look at some of the numbers below.

Wilson sounds

Wilson Sons (WSON33) posted 9.5% net profit decline in the third quarter of this year compared to the same period of 2018 to $ 14 million.

The company's net income also plummeted: 7% on the same basis, closing the July-September period of $ 106.1 million.

The company's EBITDA fell 11.6% year-on-year – excluding the effects of IFRS16 – totaling $ 40.5 million.

"Container terminal results have declined as Brazil's economic growth remains weak," the company said in a statement.

CPFL Energia

CPFL Energia (CPFE3) generated net income of $ 748 million in the third quarter of this year. The value is 19.4% higher than the previous year ($ 626 million).

Already, the company's net operating income declined 4.7% on a comparable basis, totaling $ 7.75 billion.

The CPFL Consolidated EBITDA ended the period between July and September in the amount of $ 1.62 billion. The value is up 4.5% from the year before ($ 1.55 billion).

As a result, the company's net debt to EBITDA ratio fell from 2.92x in the third quarter of 2018 to 2.68x in the third quarter of 2019.

"In terms of operations, energy sales in our concession areas this quarter, as well as in the Brazilian market, have not been significantly stressed, mainly affected by industrial slowdown," the company said in a statement.

And even

Even (EVEN3) reported in the third quarter of this year a net income of $ 16.5 million, which translates into a loss of $ 12.4 million recorded the previous year.

The company's net income reached $ 358 million, a 39% decline over the third quarter of 2018.

Even adjusted EBITDA, which excludes the effects of the financial fees allocated to costs (corporate debt and land financing and production), was $ 48.56 million from July to September – an increase of 83% on a year-over-year basis.

The company managed to reduce its leverage to 30.1% in the third quarter of 2019, compared to 37.9% in the same period last year.


Trisul (TRIS3) reported a net income of $ 42.6 million in the third quarter of this year, an increase of 102% over the same period in 2018.

The company's net operating income was $ 218.4 million, a 42% increase on the same basis.

The company's EBITDA grew 89% to $ 51.7 million. As a result, the company's EBITDA margin was 25.3%, versus 20.2% in the third quarter last year.

"In the nine months of 2019, we completed the projects Origina Villa Madalena, Bella Bonina and Eldorado, Praca Estacchio Chandira – Phase 1, Royal Iparanga, Synthesis Pinhiros, totaling PSV of US $ 460 million in 707 units," it says. company report. .

Join the best companies on the stock market: open a clear ZERO account for stock brokerage!

Source link